Personal Record Retention Guidelines

Personal Records to Keep For Three Years

  • Bank Statements

  • Credit Card Statements

  • Medical Bills (in case of insurance disputes)

  • Utility Records

  • Expired Insurance Policies

Personal Records To Keep For Seven Years

  • Supporting Documents For Tax Returns

  • Medical Bills (if tax-related)

  • Accident Reports and Claims

  • Property Records/Improvement Receipts (keep until after disposing of the property)

  • Wage Garnishments

Personal Records To Keep Forever

  • Alimony, Custody, Prenuptial Agreements

  • Birth and Death Certificates

  • Income Tax Payment

  • Income Tax Payment Checks

  • IRS Notices

  • Important Correspondence

  • IRA and 401K Statements – (Year-end only)

  • Legal Records

  • Medical Records

  • Photos or Videotapes of Valuables

  • Retirement and Pension Records

Other Personal Records

  • Car Records (keep until the car is sold)

  • Credit Card Receipts (keep until verified on your statement)

  • Insurance Policies (keep for the life of the policy)

  • Mortgages / Deeds / Leases (keep 6 years beyond the agreement)

  • Pay Stubs (keep until reconciled with your W-2)

  • Property Records / improvement receipts (keep until property sold)

  • Sales Receipts (keep for life of the warranty)

  • Stock and Bond Records (keep for 6 Years beyond selling)

  • Warranties and Instructions (keep for the life of the product)

 

 

Please note this table should only be used as a guide.  You should consult with your attorney and insurance carrier when establishing a record retention policy.  It is also recommended reviewing your record retention policy annually and updating it as necessary considering governmental changes and other requirements.